Raab & Moskowitz Asset Management LLC Sells 447 Shares of Chevron Co. (NYSE:CVX)

Raab & Moskowitz Asset Management LLC cut its position in Chevron Co. (NYSE:CVX) by 2.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 16,133 shares of the oil and gas company’s stock after selling 447 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Chevron were worth $2,376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in shares of Chevron by 19,404.1% in the third quarter. International Assets Investment Management LLC now owns 4,901,390 shares of the oil and gas company’s stock worth $7,218,280,000 after acquiring an additional 4,876,260 shares during the period. Pathway Financial Advisers LLC boosted its stake in shares of Chevron by 15,750.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 3,901,345 shares of the oil and gas company’s stock worth $574,551,000 after acquiring an additional 3,876,731 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Chevron by 949.6% during the 3rd quarter. Pacer Advisors Inc. now owns 3,819,963 shares of the oil and gas company’s stock valued at $562,566,000 after acquiring an additional 3,456,008 shares during the period. Charles Schwab Investment Management Inc. increased its position in Chevron by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 31,108,760 shares of the oil and gas company’s stock worth $4,581,137,000 after buying an additional 3,203,899 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Chevron by 55.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 8,537,859 shares of the oil and gas company’s stock worth $1,335,492,000 after acquiring an additional 3,048,819 shares in the last quarter. 72.42% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Scotiabank dropped their target price on shares of Chevron from $180.00 to $163.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Mizuho decreased their price target on shares of Chevron from $205.00 to $189.00 and set an “outperform” rating on the stock in a research note on Monday, September 16th. Barclays raised their price objective on Chevron from $168.00 to $174.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Bank of America began coverage on shares of Chevron in a research note on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Finally, Citigroup upgraded Chevron from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $185.00 in a research report on Tuesday, November 26th. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Chevron presently has an average rating of “Moderate Buy” and a consensus price target of $175.94.

Chevron Stock Down 2.6 %

Shares of CVX opened at $155.24 on Monday. Chevron Co. has a 12-month low of $135.37 and a 12-month high of $167.11. The firm has a fifty day moving average price of $154.77 and a 200-day moving average price of $152.42. The firm has a market capitalization of $278.98 billion, a P/E ratio of 17.06, a P/E/G ratio of 3.43 and a beta of 1.10. The company has a current ratio of 1.07, a quick ratio of 0.80 and a debt-to-equity ratio of 0.13.

Chevron (NYSE:CVX) last posted its quarterly earnings results on Friday, November 1st. The oil and gas company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.04. Chevron had a net margin of 8.44% and a return on equity of 13.15%. The firm had revenue of $50.67 billion during the quarter, compared to the consensus estimate of $48.86 billion. During the same quarter in the previous year, the firm posted $3.05 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. Equities research analysts expect that Chevron Co. will post 10.53 earnings per share for the current year.

Chevron Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 18th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend is Monday, November 18th. Chevron’s dividend payout ratio (DPR) is 71.65%.

Insider Activity

In other news, CEO Michael K. Wirth sold 164,600 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now directly owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.20% of the company’s stock.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.